Mortgage refinance applications surged for the second week in a row, according to the Mortgage Bankers Association (MBA), fueled by a drop in mortgage rates. The MBA’s Weekly Mortgage Applications Survey showed that refinance applications increased by 9.3 percent during the week ending December 9, 2011 compared to the previous week. This represents the highest [...]
...Read MoreMany homeowners have decided a new home loan should be part of their financial resolutions for 2012, as mortgage applications for a home refinance rose last week. The Mortgage Bankers Association (MBA) reported a sharp increase in the number of applications for mortgage refinancing during the week ending December 2, up 15.3 percent over the [...]
...Read MoreCoreLogic, a provider of mortgage data, released data on November 29 showing that 22.1 percent of all homeowners with a mortgage owed more than the value of their home during the third quarter of 2011. This represents a slight decrease compared to the previous quarter. Underwater homeowners have been unable to refinance into lower mortgage [...]
...Read MorePlenty of homeowners have lost equity in their homes in recent years and feel their mortgage payments are meaningless since they are paying off an asset that has dropped in value. But equity in a home is built both by increasing market value and by paying off the principal balance on your home loan. Switching [...]
...Read MoreLow mortgage rates offer several options for homeowners with enough equity to refinance. While the most popular option for homeowners is to reduce their monthly mortgage payment with a home refinance, some borrowers choose instead to shorten their loan term to pay off their entire loan more quickly. According to Freddie Mac, 95 percent of [...]
...Read MoreMore homeowners applied for a home refinance during the week ending November 4, 2011, as mortgage rates dropped. According to Freddie Mac, the majority of homeowners who refinance either reduce their principal balance or keep it the same rather than take out cash. The Mortgage Bankers Association (MBA) Refinance Index for the week ending November [...]
...Read MoreWhile the Federal Reserve says that the economic slowdown is likely to continue into 2012 and beyond, homeowners who want to refinance are also in an economic slump. According to the Mortgage Bankers Association’s (MBA) Refinance Index for the week ending October 28, 2011, applications for a home refinance declined by 0.2 percent over the [...]
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